Michael Saylor Breaks Silence on Key Flaw of Bitcoin
Although Bitcoin (BTC) is gaining attention among more and more people, qualified investors, institutions and even big ones like BlackRock or Franklin Templeton, its meaning and utility is still highly doubted by many like Peter Schiff or Warren Buffet.
Critics deny Bitcoin the right to be a store of value and to be called Gold 2.0 due to its high volatility compared to traditional assets. Thus, despite its growing popularity, Bitcoin is still widely considered a speculative asset or even a gamble.
Saylor does not agree
On the other hand, Michael Saylor, the CEO of MicroStrategy and a well-known Bitcoin bull, is fully convinced that the cryptocurrency is the perfect store of value and even “the money of the future.”
In a recent post on social network X he decided to debunk the opinion that volatility is a flaw of Bitcoin. Saylor posted a chart showing how MicroStrategy’s MSTR stock skyrocketed nearly 1,000% after the company adopted BTC four years ago.
Bitcoin’s volatility is a feature, not a bug. pic.twitter.com/VXhO8QEHg3
— Michael Saylor⚡️ (@saylor) August 10, 2024
What’s funny is that BTC itself only went up 408% during that time. To put that in perspective, the main U.S. stock market index, the S&P 500, has only gained 59% since August 2020.
The chart was accompanied by the statement “Volatility is vitality,” emphasizing Saylor’s perspective that Bitcoin’s volatility is a strength rather than a weakness. “Bitcoin’s volatility is a feature, not a bug,” Saylor added, challenging the conventional view that volatility undermines the cryptocurrency’s value.
